SPDR MSCI Correlations

QEMM Etf

USD 67.67 0.34 0.50%

The current 90-days correlation between SPDR MSCI Emerging and Hartford Multifactor Emerging is 0.94 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR MSCI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR MSCI Emerging moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR MSCI Correlation With Market

Poor diversification

The correlation between SPDR MSCI Emerging and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR MSCI Emerging and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in SPDR MSCI Emerging. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with SPDR Etf

0.78	VWO	Vanguard FTSE Emerging	Pair Corr
0.94	IEMG	iShares Core MSCI Aggressive Push	Pair Corr
0.94	EEM	iShares MSCI Emerging Aggressive Push	Pair Corr
0.83	SPEM	SPDR Portfolio Emerging	Pair Corr
0.92	FNDE	Schwab Fundamental	Pair Corr
0.76	ESGE	iShares ESG Aware	Pair Corr
0.64	SFGRX	Seafarer Overseas	Pair Corr
0.78	DGS	WisdomTree Emerging	Pair Corr
0.9	XSOE	WisdomTree Emerging	Pair Corr
0.79	ITDD	iShares Trust	Pair Corr
0.65	CPST	Calamos ETF Trust	Pair Corr
0.61	TSXU	Direxion Shares ETF	Pair Corr
0.69	DDFO	Innovator Equity Dual Sell-off Trend	Pair Corr
0.63	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.61	CAT	Caterpillar	Pair Corr
0.7	BAC	Bank of America	Pair Corr

Moving against SPDR Etf

0.36

Procter Gamble

Pair Corr

Related Correlations Analysis

	ROAM	MEM	ENOR	FLLA	EWUS	INEQ	JDVI	EMCR	AVMA	RFEM
ROAM		0.64	0.07	0.77	0.29	0.79	0.73	0.62	0.75	0.95	ROAM
MEM	0.64		0.43	0.17	0.48	0.33	0.42	0.98	0.51	0.76	MEM
ENOR	0.07	0.43		-0.05	0.88	0.3	0.48	0.43	0.45	0.26	ENOR
FLLA	0.77	0.17	-0.05		0.14	0.83	0.73	0.09	0.67	0.67	FLLA
EWUS	0.29	0.48	0.88	0.14		0.54	0.66	0.46	0.69	0.47	EWUS
INEQ	0.79	0.33	0.3	0.83	0.54		0.96	0.27	0.93	0.8	INEQ
JDVI	0.73	0.42	0.48	0.73	0.66	0.96		0.37	0.93	0.79	JDVI
EMCR	0.62	0.98	0.43	0.09	0.46	0.27	0.37		0.44	0.72	EMCR
AVMA	0.75	0.51	0.45	0.67	0.69	0.93	0.93	0.44		0.85	AVMA
RFEM	0.95	0.76	0.26	0.67	0.47	0.8	0.79	0.72	0.85		RFEM
	ROAM	MEM	ENOR	FLLA	EWUS	INEQ	JDVI	EMCR	AVMA	RFEM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

EMCR	+ 0.98	MEM
JDVI	+ 0.96	INEQ
RFEM	+ 0.95	ROAM
AVMA	+ 0.93	INEQ
AVMA	+ 0.93	JDVI
EWUS	+ 0.88	ENOR

High negative correlations

FLLA

- 0.05

ENOR

SPDR MSCI Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR MSCI ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze SPDR MSCI's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ROAM	0.56	0.06	0.04	0.16	0.71	(0.56)	1.16	(1.03)	3.45
MEM	0.77	0.02	0.01	0.09	0.98	(0.74)	1.72	(1.23)	4.52
ENOR	0.73	0.03	(0.02)	0.21	0.88	(0.79)	1.63	(1.75)	4.58
FLLA	0.86	0.09	0.03	0.54	1.15	(0.86)	1.73	(1.58)	6.61
EWUS	0.67	0.04	(0.03)	0.26	0.69	(0.77)	1.74	(1.19)	3.37
INEQ	0.49	0.06	0.05	0.17	0.50	(0.52)	1.10	(0.89)	2.89
JDVI	0.59	0.06	0.04	0.15	0.68	(0.58)	1.35	(1.23)	3.14
EMCR	0.73	0.01	0.01	0.09	0.95	(0.77)	1.24	(1.28)	4.76
AVMA	0.42	0.01	(0.03)	0.08	0.47	(0.46)	0.92	(0.91)	2.13
RFEM	0.63	0.04	0.02	0.13	0.78	(0.65)	1.53	(1.07)	4.38

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